Codere Online ( (CDRO) ) has released its Q2 earnings. Here is a breakdown of the information Codere Online presented to its investors.
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Codere Online is a prominent online gaming operator based in Spain and Latin America, offering sports betting and casino services through digital platforms. In its latest earnings report for the second quarter of 2025, Codere Online reported a total revenue of €51.4 million and a net gaming revenue of €54.8 million, reflecting a slight increase from the previous year. The company’s performance in Mexico was particularly strong, with a 3% increase in net gaming revenue despite currency challenges.
Key financial highlights include a net loss of €3.1 million for the first half of 2025, compared to a smaller loss in the same period of 2024, largely due to unfavorable exchange rate impacts. The company’s cash position stood at €45.2 million as of June 30, 2025. Codere Online also repurchased $0.7 million of its shares as part of a larger buyback plan.
The company experienced a notable growth in its average monthly active players, particularly in Mexico, where the number increased by 36% compared to the previous year. This growth contributed to a 23% increase in net gaming revenue in local currency terms. Despite facing several market challenges, Codere Online remains optimistic about achieving its 2025 financial targets.
Looking ahead, Codere Online’s management maintains a positive outlook, reiterating its net gaming revenue target of €220-230 million and an adjusted EBITDA of €10-15 million for the year. The company continues to focus on expanding its market presence and enhancing its digital offerings to drive future growth.